Quote:
Originally Posted by Jibartik
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I am having a hard time understanding the housing market.
I often hear this one response when someone points out that millennials can't afford to buy one:
But.. Am I the only one that is like, wait we're at maximum occupancy here? There are more people than homes can be built? [You must be logged in to view images. Log in or Register.]
Like...
Are we at a lack of supply because we could have many more houses than we have, but we just wont build them?
Or are we at a lack of supply because we're reaching maximum occupancy and no mater how you shake it, we're screwed?
I just seem to think that if we have more demand than we have supply of homes, that it's not a solvable solution.
Do we think that new towns are going to open up in Nebraska and that will solve the housing issue?
I just dont see how supply of homes being a problem can just be fixed. [You must be logged in to view images. Log in or Register.] |
Housing Market issue is a combination of:
1.) Way less buying power compared to prior generations.
a.) Inflation
b.) Wages not matching inflation.
2.) Rise of homes to rent.
a.) Companies/Frat bros buying houses as investments to rent.
b.) Air BNB from middle class taking homes off the market.
Other factors of course, now interest is higher than 4 years ago.
Never just one thing, but if we want to get political, we could talk about making rent-control a nationwide mandate. There is one class of humans I don't care to see hurt by financial losses, and that is landlords. I am my own homeowner and using other peoples need for shelter as a means to profit has been a source of untold misery in this world. Apartments in my city have increased like 40% in 4 years? It's insane. Also, if you own more than one home, you should pick up....90% of property tax in your state. Homesteaders should cover 10%. Have a nice day.